- I swore I’d never take on debt for a depreciating asset, like a car. My husband and I have always saved to buy cars in cash so an auto loan was never necessary.
- But when our transmission died unexpectedly and we didn’t have enough saved to buy a decent car, my husband suggested an auto loan.
- We looked for a good interest rate and settled on a loan with a 4.05% APR and bought a good-quality car. I learned an important lesson about being flexible with my finances.
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